…UNIVINSURE was the most traded stock by volume at 33.62 million units, while ARADEL was the most traded stock by value at N6.27 billion.
…On sectors, the Oil & Gas (+3.3%), Consumer Goods (+0.8%) and Banking (+0.8%) indices advanced, while the Insurance (-1.7%) index declined
…reasury bills secondary market were bullish, as the average yield contracted by 133bps to 23.4%.
WED JAN 29 2025-theGBJournal| The Nigerian equities market regained some grounds on Wednesday with the benchmark index, the All-Share Index (ASI) climbing 0.6% to 104,549.74 points. The Year-to-Date return also inched higher to +1.6% while market capitalization reached N64.520 trillion.
Bargain hunting was seen in ARADEL (+10.0%) stocks following the release of their 2024FY unaudited financial statements STANBIC also gained +9.9%, one the biggest gainers at close the trading session.
The total volume of trades declined by 22.2% to 421.62 million units, valued at N15.00 billion, and exchanged in 16,256 deals.
UNIVINSURE was the most traded stock by volume at 33.62 million units, while ARADEL was the most traded stock by value at N6.27 billion.
On sectors, the Oil & Gas (+3.3%), Consumer Goods (+0.8%) and Banking (+0.8%) indices advanced, while the Insurance (-1.7%) index declined. The Industrial Goods index closed flat.
As measured by market breadth, market sentiment was negative (0.7x), as 36 tickers lost relative to 26 gainers. MCNICHOLS (-10.0%) and CAVERTON (-10.0%) posted the most significant losses of the day, while ARADEL (+10.0%) and CHELLARAM (+10.0%) led the gainers.
At the currency market, the naira appreciated by 0.8% to N1,510.72 against the US dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM).
Proceedings in the Treasury bills secondary market were bullish, as the average yield contracted by 133bps to 23.4%.
Across the curve, the average yield contracted at the short (-93bps), mid (-259bps) and long (-96bps) segments, driven by the demand for the 85DTM (-298bps), 127DTM (-389bps) and 190DTM (-239bps) bills, respectively. Meanwhile, the average yield remained unchanged at 27.5% in the OMO segment.
The Treasury bond secondary market traded with bullish sentiments, as the average yield contracted by 2bps to 20.4%.
Across the benchmark curve, the average yield declined at the short (-13bps) end due to buying interest in the JAN-2026 (-68bps) bond but advanced at the long (+3bps) end following selloffs of the JAN-2042 (+16bps) bond. The average yield remained unchanged at the mid segment.
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